In brief
It was indeed a delay: pic.twitter.com/0vipxSI1dl
— James Seyffart (@JSeyff) May 5, 2025
Daily Debrief Newsletter


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1.05%$103,618.00
1.10%$0.265087
-4.40%Reading
The U.S. Securities and Exchange Commission on Monday stopped short of giving the green light to a new crypto exchange-traded fund that would give investors exposure to Litecoin.
The Wall Street regulator instead decided to delay giving an answer to the proposed product—which is a perfectly normal step for such applications.
Nashville, Tennessee-based Canary Capital filed the paperwork in October for the Canary Litecoin ETF. The SEC currently has dozens of altcoin ETF applications to consider following the regulator’s approval last year of spot Bitcoin ETFs—which had the most successful launch in ETF history.
The SEC had said no to Bitcoin funds for a decade before giving them the green light, and then approved Ethereum ETFs a few months later.
Now, the SEC has new leadership following the election of crypto-friendly President Trump—and asset managers are trying their luck for other digital asset-related ETFs.
It was indeed a delay: pic.twitter.com/0vipxSI1dl
— James Seyffart (@JSeyff) May 5, 2025
Top asset managers like Bitwise, Franklin Templeton, Grayscale, and 21Shares have filed paperwork to get new crypto ETFs approved, with coins like Solana, XRP, and Cardano among the biggest targets for issuers right now.
The SEC frequently pushes back when making decisions on proposed products like ETFs, just punting on XRP and Dogecoin applications last week.
Crypto funds issuer Canary Capital has applied for the first exchange-traded fund based on the performance of SEI, the token of the Sei layer-1 blockchain, according to a filing with the U.S. Securities and Exchange Commission on Thursday. The Canary Staked Sei ETF includes staking, allowing investors to earn extra yield on their investment. “The Trust’s investment objective is to…..provide exposure to the price of Sei held by the Trust,” the filing said. “A secondary investment objective is for...
Litecoin (LTC) is a proof-of-work cryptocurrency and the 25th biggest digital coin by market cap. The asset is a forked version of Bitcoin that launched in 2011 by ex-Google employee Charlie Lee.
The coin is currently down by 2.2% over a 24-hour period, trading hands for over $83, CoinGecko data shows.
Edited by Andrew Hayward
The top meme coin by market cap, Dogecoin, is diving lower amid a broader market sell-off, dropping nearly 6% in the last 24 hours as tensions between Israel and Iran flare following Israel’s airstrikes late Thursday. The dog-themed meme coin leader is now trading below $0.178, down 23% over the last month and more than 75% from its all-time high of $0.73 in 2021. The meme category as a whole is underperforming major assets, dropping 9.5% in the last 24 hours compared to 2.6% and 8% for Bitcoin...
The Middle East is again at war, with rising tensions between Israel and Iran spooking markets and sending prices for both traditional and crypto assets, such as Bitcoin and Ethereum, tumbling to weekly lows. Is it time to panic for Bitcoin investors? The data currently doesn’t support that view. Bitcoin dropped 4.5% in the past 24 hours to trade at $104,343, while Ethereum crashed 8.2% to $2,552 as escalating Middle East tensions sparked a massive risk-off move across cryptocurrency markets. Th...
Crypto prices have plunged in the wake of Israel's airstrikes on Iran, with major altcoins taking significant hits and liquidations passing $1 billion, as markets braced themselves for Iran's response. Ethereum has tanked 7.8% over the past 24 hours to $2,533, according to CoinGecko, while XRP dropped 3.9% to $2.13 and Solana 8.4% to $145. The best-performing assets in the top 15 cryptocurrencies by market capitalization are both stablecoins holding their peg to the U.S. dollar—never a good sign...